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LSDefine

Simple English definitions for legal terms

lapsed policy

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A quick definition of lapsed policy:

A lapsed policy is an insurance policy that is no longer active because the policyholder has not paid the required premiums. This means that the policy is no longer providing coverage for the insured person or property. Most policies have a grace period of 30-31 days after nonpayment of premiums, but after that time, the policy will lapse. It is important to keep up with premium payments to ensure that your insurance policy remains active and provides the coverage you need.

A more thorough explanation:

A lapsed policy is an insurance policy on which the policyholder has failed to make premium payments. This means that the policy is no longer in effect and the policyholder is no longer covered by the insurance. Most insurance policies have a grace period of 30 or 31 days after nonpayment of premiums, but after that time, the policy will lapse.

For example, if John has a life insurance policy but fails to make his premium payments for two months, his policy will lapse and he will no longer be covered by the insurance.

lapsed legacy | lapse patent

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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